The Ohio Department of Development announced Wednesday the opening of a new round of grant funding to help innovators and entrepreneurs bring breakthrough technologies to the marketplace.

The Ohio Third Frontier, an initiative of the Department of Development, is releasing the request for proposals for Phase 1 and 2 projects through the Technology Validation and Start-up Fund.

The program aims to boost the state’s economy through commercializing technologies invented by and developed at higher education institutions, nonprofit research institutions, and federal labs, as well as supporting startups with the licensing of their products.

Phase 1 awards are intended for Ohio research institutions to help with the cost of viability testing and prototypes for new technologies. Awards can help demonstrate the commercial viability of a technology and help prepare a proof-of-concept for commercialization. Grants range from $200,000 to $1 million and require the institution to match the grant amount.

Another funding option is for $100,000 requests that require the institution to hire an intern as part of the project instead of the cost-share match.

Phase 2 Start-up Fund awards are up to $200,000 for each project and target companies ready to move technologies from Ohio research institutions to the marketplace. Awards support startups and young companies with the licensing and validation of products and technologies to help them move forward with the commercialization of their product.

Proposals are due by 4 p.m. Aug. 8. Awards are expected to be announced in October.

For more information, https://development.ohio.gov